I'm a landlord, but I rent a few hundred dollars less than the market price. I do this to ensure that I always have tenants, and so that they don't give me a hard time, because they know they are getting a good deal from me.
@@cancel.lgbtq.6892 it’s not going to reset. For the following reasons. Crash of 2008 saw developers pull back their projects. We’re nationally half a million short per year on housing starts over the past ten years. Second, we have the largest population of 25-30 year olds since the 1980’s looking for their first residence and we’ve had the lowest interest rates in our history. The lending practices since the crash have been the most responsible in decades. No more liar loans. (aka NINA loans). Add to the fact many boomers are delaying selling their homes because they either can’t find anything or they have just decided to hold off due to the pandemic. My advice is to get into something. Prices aren’t going to drop. They will go sideways for a while which is typical but not for several years.
I'm a 76 year old disabled veteran living in Hernando County and I thank God my modest little home is paid for. Never thought I'd live to see things get this bad in our beloved country. May God help us!
May God bless us all. I will be 50 yrs. old next month and my mind is blown by what is going on in this country. I have to create happiness in my mind because if I think too much about what is really going on I would lose my mind.
Let the rich people Cook and Serve their own food at the Restaurants and wash the dishes too. when all the lower paid workers are priced out ! its happening in Aspen.
I am SO SICK of hearing the word "paradise".... As somebody who has lived in SE FL for more than 2 decades, I can assure you that we are far, far away from anything resembling paradise. Unless you like 24/7/365 90 degree / 100% humidity weather, hurricanes, scammers, sky-high cost of living, crime, the worst traffic imaginable, and rudeness and lack of education all around. Oh, and, sure, we do not have state taxes, but we DO have some of the highest insurances and property tax rates in the country that make you spend a ton more in the end. If you like all of that, then, yes, you will be in "paradise".
Amen !!! I just sold my house and getting ready to leave 'Paradise'. Getting a bigger house for half of what mine sold for. And best of all at 1/4th the Property Tax and insurance! I'll miss the daily shootings, robberies and carjackings . . .
I owned a duplex in a fairly large city. I had at that time a reasonable mortgage payment and tax rate. But, once the prices of real estate increased for what the city told me was “what a willing buyer would lay a willing seller” my taxes went up so high they were double my mortgage payments every month. So, I had to sell it and move to and entirely different city in my state to afford my new mortgage and lower taxes! Heartbreaking 💔 but true!
It's already happening, including cities like Pensacola. The city is trying to clean up encampments, but it's not going to do much. They'll just camp somewhere else.
under the control of a Republican leadership....wonder if that will help them decide on rent control...if Disney pulls a fast one and leaves....there will be lots of space
These stories have compelled me to bite the bullet and pay off my mortgage in full this year. At least then no matter what happens to me financially in the future, at least I’ll have a place to call my very own.
Exactly right. When property values go down the "news" runs stories about how renters are doing well and homeowners are crazy to own. They don't care about reality, only what misery they can cash in on.
It's not a place of your own..the house market is set to plummet. Even if you homestead you're screwed. You are still suseptible to renegade city policy and taxes and soaring utilities
I definitely don’t consider Florida paradise. It’s just a warmer, tropical place but no where near close to Fiji, Marshall Islands and Seychelles. I’ve lived in Hawaii on Oahu but because of its issues is not paradise either.
@@jasonengland2357 Must be part of Biden's "build back better" plan, or an extension of Trump's "make America great" again. Either way, the Wallstreet Elites win.
@@Gary65437 yup, the banks learned after the crash in 09 and had all these foreclosed properties sitting around, that instead of mortgage backed securities, rent backed securities were created and actually a better deal for them, you not only got forever monthly income on the property, they’ll always own it, continually goes up in value with being able to write off depreciation on their taxes. It’s a much better security than mortgage backed so properties continue to get gobbled up and put into this rent machine.
@MiamiBeach xxx As a native NYC resident, I agree with this. The Democrats’ insane policies affect everyone not just those who live in the blue states. My relatives just moved to FL because of a job change and they are getting priced out of where they need to be in FL.
@@danmcclaren5436 Because it was affordable and the freedom of responsibility of being a landlord, now the last two years had caught a lot of people off guard and it is too late to catchup. With prices going artificially thought the roof watch the local counties getting greedy and raising taxes that will lots of people, specially seniors out in the parking lot.
Omg....at 80 it's probably best he rentsbdue to upkeep and health. Wow give him a break. Hope he can buy a van or something. My 87 year old mom would be on the streets if I didn't help. She had a 10 acre plot with 2500 sqvft home paid in full. Taxes caused her to lose it. Wake up people you could be next!
Landlords do have a choice here: This is like the Yukon gold rush, where once the cost of a shovel could cost $50 or more. Is pathological and reckless greed! This is a lesson in how to destroy a state and destroy people's lives.
In Boynton Beach, my apartment complex went from $1,075 to $1900. What on earth!!! and the place is old and had nothing to justify this price. I have seen many of my neighboors moving... at this point, my family is going to move to another country and work online. There are many countries that will welcome you and your money. Your lifestyle will increase!!! dont be afraid of looking for a different way to live. I love the USA but at this point it is not worth it
It's disgusting what's going on. The real estate bubble is going to burst soon. The middle class is gone and greedy corporations have taken over.There is a global housing crisis, too much immigration, mass unemployment, inflation, and a global homeless crisis. There is almost no affordable housing being built, anywhere, now.
If south florida would have been tough on mortgage fraud over the last 12yrs we wouldn't be in this mess. Regulators are just as asleep as 2006. Plus the Fed pumping asset inflation bubbles, we're getting hit from all directions.
That’s why it’s important to plan ahead! A rental should never be a forever thing. The thing is most people are not willing to save money for a down payment or get a promotion. They go through life pushing their luck on daily basis.
Looking at Florida, but when you buy the home in 2020-2021, for 80,000-130,000, then flip it in 2022 for 3 times as much is ridiculous. Half of what is trying to be sold looks like dump shacks! And here in Las Vegas, it is not much better!
In 1989 my sister lived in Tequesta/Jupiter with a mortgage of $400/mo on a two bedroom condo. She went back 25 years later and they tore out the entire complex and put in a 5 story building.
@@Dbb27 they are the most greedy of greedy. They will do anything to flip a slum for ,profit including using code enforcement to harass homeowners to cause them financial problems they are scum. Emminent domain is another trick.
Who are you talking about? You want renters to stop bidding up rents? You want people with the income to live the most popular places to stay away? Or are you talking about the landlords? They should not allow renters to offer higher rents? OK, so how many renters would apply to a place that a landlord offered for way below market? 20? 50? 100? How exactly is the landlord suppose to decide who gets the unit? Person with no kids? By race? Gender? Haircut? Car they drive? This is easy to solve if all the commenters here saying how sad this is sent $100/mo to one of these renters being priced out. But I'm guessing that's not going to happen. Too bad self-righteousness isn't a solution. Just feels good.
@@MrWaterbugdesign everyone used to be able to afford a place to live that's in their price range or budget, but if all the owners are going up on the rent, many people won't be able to afford it . Now, i know you're thinking, if you don't like it & can't afford it, then go somewhere you can afford, but go where when majority, if not all, the owners are raising the rent ? I know they can do what they want too, but that's sad because people need a home to live in . It's not the owners fault, it's the government's fault because they & who ever else are the ones who's doing it .
@@veniagivenchy1532 There is a city near me where one company owns 70% of the rental market, commercial and residential. Everyone wants to live in that community. Because of the demand, each time they renew your lease they have an increase of at least 10%. I heard it was 30% this year. Some years they just toss you out because they want to rebuild the units. I wish I had a business the could do that good.
@@stevehansen932 that is horrible . I know it's a business, but they don't have to treat people like they're nothing . If you're gonna own homes you should wanna help people too . But unfortunately not everyone cares . If i'm ever blessed to own houses, townhouses, apartments, condos, etc. I'd be one of the greatest owners ever because i care .
Florida is screwed. If we build enough homes for everyone the environment will be totally destroyed. But Don't blame insurance companies blame the attorneys here. Between 2013 and 2020, Florida's property insurers paid out $15 billion in claims costs. Only 8% percent of that was paid to consumers, while 71% was paid to attorneys. That is more than $10 billion. Floridians are now spending an average of $3,600 a year for homeowners insurance, double the national average.
artificial equity....when the housing bubble comes back down to earth .....many will still be ahead in the equity game but prices will be more in line with actual value...and if you sell at an inflated price and plan to stay in the same area many will be on the other end of those inflated prices to buy
Regret not moving to Florida years ago. Now I'm stuck in the snow up north for life. And yes, I know you're already full..... Too many people - not enough homes- nationwide really.
There are many inexpensive places in FL to live. I just searched on Zillow, many homes for sale under $50k. What these "new" stories do is only look at a tiny fraction of real estate, the most popular areas. Yeah, guess what, beachfront homes are going up in value. This is news?
We are short 500k builds a year since 2010 when building shut down. There is the largest demographic of 25-30 yo since 1980’s. Lowest interest rates in our history. This is nationwide and in every State.
most of the problem is insurance and taxes property taxes are going through the roof and for what the city does not provide anything more than they did last year I guess they need more money for their pensions and the insurance man needs four new motors for his boat and they have the laws backing them what to do
Insurance and property taxes are not the issue. The issue is that there are too many long term rentals being converted into vacation rentals. Then you have the county/state that paid for 12-15 months of peoples rent. Then you have corporate construction companies importing foreign H1B workers (instead of hiring local workers) that need housing… the construction company snatched up 15 apartments at a time, paying top dollar. Now there are less apt available that were rented at $xxxx/mo so now market rent increases across the board for everyone. Gotta live the AI “Price Optimizer” that all apt complexes are linked to, it automatically raises rates when units are rented. Let’s see what else? I could go on for days….
Seriously!!! Where are these millions of migrants living? Oh that’s right, the state and counties are paying at or above market rates… decreasing availabilities further while contributing to escalating prices.
Gary65437 Yeah, why don't they move to New York, Los Angeles, or Las Vegas? That's right...filth, high crime, homelessness, and record high living expenses.
Actually those that were in default on rent from the eviction moratorium have long since paid up or been evicted about a year and six months ago. This is due to price adjustment from insurance, maintenance and new construction cost as well as a increase in insurance fraud. Inflation adjustments are going to get worse too. City and county officials are already bringing in outside NGOs to protest for a life long rent freeze and to shut down new construction. In 2019 we had trouble moving Venezuelans out of storage units into actual apartments. NGOs are also having trouble raising funds to house illegal immigrants due to inflation but blame Florida’s wealthy which are mostly far weather owners working and conducting business in other states meaning their not buying much in the local economy besides property taxes which outside NGOs are demanding a increase that will effect the lowest income brackets only.
@@winning3329 headline: “Free spirited people that never planned ahead when they were younger are complaining that their landlord raised their rents to their highly desirable house in a high demand city”
Supply and demand, overpopulation with fewer houses allows landlords and sellers to ask for more money . Move to Detroit and thousands of homes sit empty. They can not give them away. No demand in Detroit. Cheap housing.
What abuse? Are you saying landlords are forcing people to live in popular areas? That people with the means shouldn't have the right to live in these popular areas? Silly. You just want to save whoever appears on TV with a sad story. You know nothing about these people.
Pandering. Housing values have been going up for as long as Palm Beach has existed. This is nothing new. But because this is yet another boom market it's time for "news" shows to cash in on a few peoples' problems. If a person could afford to live in such an expensive location last year they can afford to live in many nice locations.
Solve what? the rich will just move their money and businesses to some tax heaven countries and the average people will be left unemployed because there's nothing to do. AOC just said the things people like you want to hear and she gets the votes. Remember, the Rich can live in any cities/countries/States, but the average people cannot move because they cannot afford to.
@@thanhleusacuocsongmy8168 They won't move trust me. Remember uber threatened to leave California and it didn't. They ain't messing with their profits even if they get taxed.
@@Mitzi73 Best of Luck to you... My Daughter moved to WPB, and even I can't believe that the Mortgage is almost always the cheapest part of the Monthly nut. B/t the Mortgage, HOA, Prop Taxes, and Homeowners Insurance...its as bad as NYC.
@@skeeterbodeen8326 Thank you. That’s where I live NYC. I am rethinking life now. My daughter and I are living with my parents and sister in a two family home. We consolidated households because one strong house is better than two weak ones. I pray as a country we survive this crisis.
I cant wait till the ocean rises and all those expensive houses are underwater. But if you look at it that why all the big land grabbers are buying central Florida up. Hedging there bets.
Sure. Who pays the difference? Force it on the landlords? Watch rental units go away. And watch bus loads of anyone on a fixed income coming to town for their reduced rent in a great area. I'm on fixed income, I'd certainly be happy to move to such a nice area. And of course you'd be telling people not on a fixed income who could pay "sorry, you can't live here because there aren't any spaces for you". Maybe fairy dust?
The solution let's get rid of these rich people Let's help the older people who are living in fixed income Let's make homes more affordable for the working people, not for the lazy people
Why would other states follow up with the same disgusting actions.. other states did not have to join in with rent prices .. food etc.. GREED DISGUSTING GREED.
Where are all the millions of illegals crossing the border going to?. Where are they staying?. Government subsidized houses?. Who has the answer and why nobody cares to talk about it?.
Paradise is subjective. Some don't consider Florida paradise. It's just a state with warmer weather...and add on inflated housing cost, crazy high insurance cost...and a state with notoriously low wages...paradise if that's what one thinks Florida is comes at a price maybe not worth it
This is nothing to do with housing as this is happening all around the world. This is a monetary issue driven by government / central banks printing money and driving interest rates to zero to spur economic growth. These policies are world wide in the developed world. What you have to ask yourself is this. Are houses rising including rent or is currency falling in value because of defect spending? This is currency being devalued.
Have you heard the saying like nothing is not forever.. We all have hope something somehow somewhere will put an end to this nightmare. All our country problems did not last forever.. This can't last forever .. American stands for honest working people.. Also gave or dreams come true.. this greedy disgusting actions going on now will have no place in America no more.. one day our dreams will come true living in our beautiful country AMERICA.
I don't want to I don't want to be mean or anything but just wait wait until a nice hurricane category 5 goes through this beautiful Miami to everything down why because people are vicious mean cruel the Richer is getting richer and the pores are getting poor and the homeless like myself and my mom I still live in the street 4 years later because people don't care and that's Miami for you people don't care.
Don't worry....what goes up MUST come down. Those same landlords who are heartlessly kicking out good tenants will be begging those same tenants to come back....especially if there is a recession/depression like the markets are predicting. KARMA is a Witch on a broomstick ride and she does not stop!!!!!!!!!!!!
It doesn’t flood in paradise and everything in paradise is free and also you can live for ever inside the real paradise.but I understand it is a fake paradise parade that cost a person everything they can rake and scrape together to pay debt
There is plenty of empathy out there.... but not much of personal responsibility.....these eveicted tenants all have one thing in common..... they look the same....the same kind of people.....
